Rectified Financial Results for Quarter ended 30th June, 2025 of FYNX Capital Limited.
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Fynx Capital Ltd reported Q1 FY26 total operating income of ₹48.68 lakhs, up about 42% from ₹34.30 lakhs in Q1 FY25, driven mainly by other operating income. Despite higher revenue, the company posted a net loss of ₹56.65 lakhs (vs ₹68.98 lakhs loss in Q1 FY25), as expenses rose sharply to ₹105.76 lakhs. Cash and equivalents dropped dramatically from ₹1,604.07 lakhs to ₹14.68 lakhs, and operating cash outflow was a steep ₹1,565.25 lakhs, mainly from loan disbursements. The auditor (N.C. Vaishnav & Co.) gave a clean limited review, though noted that last year's comparative figures were audited by a predecessor auditor, indicating a recent auditor change. Of the ₹1,600 lakhs raised via Rights Issue in March 2025, ₹994.95 lakhs remains unutilized and parked in mutual funds.
The stock is a thinly-traded small-cap NBFC with continued quarterly losses, negative other equity (-₹139.39 lakhs), and near-zero cash despite holding ₹994.95 lakhs in liquid mutual funds from the rights issue. Revenue growth is positive but not enough to cover costs yet. Shareholders should watch deployment of unutilized rights issue proceeds and the path to profitability; near-term sentiment is cautious.